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ESB Certification Question and answers 100% correct 2024

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ESB Certification Question and answers 100% correct 2024 In general, which two characteristics define a "small" business? - correct answer "Fewer than 1,500 employees" and "less that $35.5 million revenue". Classify each of the following businesses as either "Physical" or "Digital". - correct...

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  • August 23, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • esb certification
  • esb certification question and answers 100 correc

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ESB Certification 2
In general, which two characteristics define a "small" business? - correct
answer ✔"Fewer than 1,500 employees" and "less that $35.5 million
revenue".


Classify each of the following businesses as either "Physical" or "Digital". -
correct answer ✔Physical:
"Bakery in your community" and "Hair salon that makes appointments online".


Digital:
"Online store that dropships camping gear" and "Bookstore on Amazon that
sells eBooks".


You need to create a legal structure for your small business. You have plans
for it to grow and hope in the future to sell shares to the public. Your startup
partners are citizens of Mexico and Japan. You do not want to be personally
responsible for business liabilities. Which legal structure should you set up for
your business? - correct answer ✔C-Corporation


Match each of the following business management role to its corresponding
description:
CIO
CEO
COO
CFO - correct answer ✔CEO (Chief Executive Officer): The highest-ranking
employee in the company; reports to the board of directors.

, CFO (Chief Financial Officer): Creates budgets, analyzes financial data, and
forecasts company profits.


CIO (Chief Information Officer): Develops policies and structures to protect
company data.


COO (Chief Operating Officer): Oversees the day-to-day administrative
functions of a business; second in command.


You own a lawn care business. You have employees who work long hours
laboring in good weather, often exceeding 40 hours per week. They also work
short hours when the weather is bad, sometimes they can't work at all. You do
all of the sales for your business.
Which two types of compensation would be appropriate for these landscape
employees? - correct answer ✔"Salary" and "Hourly".


Match each Stage of the Business Life Cycle to its corresponding description.
- correct answer ✔"Maturity": The business is separate from the owner with
responsibilities delegated to staff. A business in this stage usually commands
a considerable share of the market and may even be a household name.


"Success": Company is stable and profitable.


"Takeoff": Expansion strategies are implemented, and investment is balanced
with potential.


"Survival of the Fittest": Focus shifts to revenue, expenses, and growth.
Cashflow is the major issue.

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